Can I flip profits from a home sale to buy another home outside of the USA?

C

CommanderCrusty

New member
Joined
Dec 11, 2008
Messages
12
Reaction score
0
Points
1
I'm writing a novel with a real estate mogul as the lead character. Can he do a 1034 roll over or 1031 tax free exchange when buying a home outside the United States? In the book, he sells a property, then wants to flip the profits into a resort home in Germany's Black Forrest region. He's not un-American--he just has lots of homes and investments all over the world.
 
Not unless it is your principal residence otherwise you are taxed heavily on the sale(because it is a business you are engaged in)
 
Back
Top